If you're thinking about donating to help the victims of Katrina, check out Charity Navigator, which tells you how efficiently the organization gets relief to the victims and how much money they spend on themselves, among other things... This page talks in particular about Katrina.
Note that organizational efficiency is relative. Oxfam gets a low efficiency rating, but it requires more of an effort to get aid to people in Africa than to people in the US. Also, fundraising efficiency is irrelevant if you're seeking out the organization: then they're not spending any money getting your buck.
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